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EconNews Online is South-Western College Publishing's service to provide summaries of the latest economics news stories. Review the brief summaries and, for stories of interest, select the full summary. |
| SCARCITY, CHOICE, and OPPORTUNITY COST | |
| Title | Brief Summary |
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Jane England died shortly after
giving birth to triplets. The hospital admitted liability, eventually settling
the case for $1,275,000. In the trial, Mr. England was asked to value his
wife's contribution to household income, her parenting, and her personal
spendings relatively equal awards in spite of the law requiring compensation
at least in part for income and earning potential. (Updated June 15, 2002) |
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The lawyer in charge of making
awards to families of victims of the September 11 attacks has stated that
he favors relatively equal awards in spite of the law requiring compensation
at least in part for income and earning potential. (Updated January 15, 2002) |
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After two decades of passing tougher
laws requiring minimum sentences and limiting early parole, states are backtracking.
A slowing economy, lower crime rates, and spiraling prison costs are the
reasons. (Updated October 1, 2001) |
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Coinless slot machines are spreading
through casinos. They remove the delays and costs of waiting for change
and filling coin hoppers, increasing revenues. Consumers, however, have
mixed feelings. (Updated August 1, 2001) |
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The ancient art and practice of
hand-making Chinese dumplings is being replaced by purchasing frozen dumplings
of improved quality from stores. (Updated May 1, 2001) |
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More people are eating breakfast
at or on the way to work, rather than eating at home. The reasons include
longer workweeks, the need for quiet time in otherwise hectic schedules,
and heftier commutes. (Updated August 1, 2000) |
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There are a number of significant
road construction projects in progress around the nation. Although they
purport to reduce commuting time in the long term, they increase commuting
time in the interim. Also, they encourage more traffic to use the road. (Updated November 1, 1998) |
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Graffiti artists, or "graffers," are causing
significant costs for the owners of defaced property and the surrounding
communities. Massachusetts has enacted stiff penalties for graffers. (Updated August 1, 1998) |
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A British study shows that a child can cost
$80,000 up to age 17 excluding private education and full-time childcare.
In addition, mothers with two children may lose as much as $400,000 in lost
earning and retirement income. (Updated April 1, 1998) |
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In Peru, the robbing of graves for artifacts
is widespread. Archaeologists are angry that the separation of artifacts
from their context is depriving society of a better understanding of ancient
cultures. (Updated December 1, 1998) |
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The Federal Aviation Administration is recommending
that airlines replace the fuselage insulation on their planes. The agency
suspects that their flammability has led to fires. While industry representatives
have indicated that they will comply... (Updated December 1, 1998) |
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Consumers often feel guilty about buying chilled
convenience food because of the higher cost and perceptions of inferior
taste and nutrition. However, when the value of the home cook's time is
included and taste tests are conducted, it appears that consumers' decisions
make sense. (Updated November 11, 1998) |
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